SCHEDULES

SCHEDULE 29Gains and losses of a company from intangible fixed assets

Part 8Groups of companies

Continuity of identity of group

51

(1)

For the purposes of this Schedule—

(a)

a group of companies remains the same group of companies so long as the same company is the principal company of the group, and

(b)

if the principal company of a group becomes a member of another group, the first group and the other group shall be regarded as the same (and the question whether a company has ceased to be a member of a group shall be determined accordingly).

(2)

For the purposes of this Schedule the passing of a resolution or the making of an order, or any other act, for the winding up of a member of a group is not regarded as the occasion of that or any other company ceasing to be a member of the group.